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Commercial advisory support for sale of London Stansted airport

Heathrow Airport Holdings

Our role

Steer Davies Gleave acted as commercial, traffic and technical advisory to Heathrow Airport Holdings (owners of Heathrow Airport) throughout this transaction, developing independent projections across the range of areas covered by the Stansted Airport business plan.

How we did it

Our advice covered detailed review of the airport management business plan along with the development of our own independent business plan for scrutiny by bidders.

These comprised of traffic forecasts, assessment of the prospects for economic regulation and aeronautical revenues, non-aeronautical revenues (from retail, car parking and property activities) and operating costs. The scope of our advice also included assessment of future capital investment requirements.

The sale proceeded successfully in early 2013, to the Manchester Airports Group (MAG) and its partner IFM (Industry Funds Management).